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HDFC Q3 Profits Jump Threefold to Rs. 5,670 cr
January 31, 2018
Private sector HDFC Bank reported a net profit of Rs. 5,670 crores for the third quarter of the current financial year, which is nearly three times the profit it generated last year during the same period which stood at Rs. 1,701.21 crores.
The massive gains are largely because of the sale of HDFC Standard Life Insurance Company’s equity shares.
In a recent exchange filing, the lender said that during Q3 it had “offered 19,12,46,050 equity shares of Rs 10 each of HDFC Life” which generated a profit of Rs. 5,250.31 crores.
